Land Loans in California
If you do not already have land to build your home you may need a land loan temporarily in order to get from A to B. Our land loans are a simple way to obtain the land in your name. Once the land is in your name now you focus on obtaining the house plans from an architect, a cost breakdown from a builder and submit the plans for approval.
Land loans interest rates are currently in the 4% to 5% range depending on your qualifications. Once you are ready to build the construction loan will pay off the balance of the land loan (depending on your equity) and now you will have a just one loan the construction to perm loan.
The minimum down payment for land loans is 20% depending on the size of the loan and qualifications. Also please note that we do not offer land loans below 200k.
Land Loan Overview
Short term financing for a residential lot that will be built on within the next 3 years.
Loan Purpose
Purchase, Rate & Term Refinance
Products/Pricing
Fixed Rate Land Loans
Processes Standard (Full doc).
Occupancy
Intended for primary or second home construction.
Property Type
Zoned residential. Roads, utilities, water and sewer must be available to the site.
Term
36 months fixed rate amorized over 30 years.
LTV/Loan Amount/Credit Score
| LTV | Loan Amount | FICO |
| 80% | $300,000 | >=680 |
| 75% | $500,000 | >=680 |
| 70% | $1,000,000 | >=680 |
| 65% | $1,500,000 | >=700 |
Reserves
6 months PITI
Total Debt Ratios
45% back end.
Appraisals
2 appraisals are required for loan amounts greater than $1,000,000.
